MARA mNAV: Valuing America’s Largest Bitcoin Miner

Tarik PierceByTarik Pierce

The current MARA mNAV is 1.11

How is the MARA mNAV calculated?

mNAV stands for multiple to net asset value ratio. It's a calculation of a company's total market cap dividend by its underlying Bitcoin assets.

To calculator this ratio, we simply divide MARA's market cap by its Bitcoin holdings.

Why the MARA mNAV is Lower than the MSTR mNAV

For some strange reason, the MARA mNAV is much lower than the MSTR mNAV. MARA stock looks undervalued in comparison to Strategy stock simply because MARA holdings is the 2nd largest Bitcoin holdings company in the world.

Investors pay a premium for MSTR stock because it's #1 but that doesn't mean MARA shouldn't be a strong consideration.

Tarik Pierce

Tarik is an online digital nomad who has earned a living online since 2006. He studied Economics at Dartmouth College and Psychology at Northwestern University.

Leave a Reply